According to Bloomberg, GM is speeding up plans for bankruptcy even as the board prepares another restructuring plan for Obama. GM is going to end up going into bankruptcy, because they still have the albatross around their neck called the UAW. The union has destroyed the American car industry and no amount of “restructuring” by the Obama administration is going to cure that.
The fastest way for the American auto industry to become profitable and competitive again is to get the hell away from unions. That’s never going to happen especially under this administration, therefore the auto companies are destined for bankruptcy.
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